The beginning of the year is a good time to ensure the beneficiary designation forms for your retirement accounts are up to date. The best way to designate your beneficiary will depend on your goals. Here are a few options:

Name your spouse as the beneficiary, but be sure to name contingent beneficiaries as well.

Stretch out your IRA to give your heirs more time to extend the tax advantages.

If a child has predeceased you, provide for your grandchildren by making per stirpes distributions.

Preserve assets by naming a trust as the beneficiary of a retirement account.

Give your heirs options by naming alternates, who will inherit an account if the primary beneficiary decides to disclaim.